OneTrust nostaa 150 miljoonaa dollaria alentaessaan arvoaan

OneTrust nostaa 150 miljoonaa dollaria alentaessaan arvoaan

Aikaleima: 24. heinäkuuta 2023, 1
Lähdesolmu: 2782673

Raising a down round in the slowing venture market became a reality for another startup Monday.

Atlantassa OneTrust raised a $150 million round led by new investor Sukupolvien sijoitusten hallinta — co-founded by former Vice President al Gore — nykyisen sijoittajan osallistuessa Sands Capital miljardin dollarin arvostuksella.

The valuation represents about a 12% drop from the $5.1 billion valuation the privacy and security startup garnered after it raised a C-sarja loppuvuodesta 2020 and an extension in 2021.

Founded in 2016, OneTrust says it has now raised more than $1 billion. 

Etsi vähemmän. Sulje lisää.

Kasvata tulojasi kattavilla etsintäratkaisuilla, jotka perustuvat johtavaan yksityisen yrityksen dataan.

Uusi normaali

OneTrust, which helps companies manage privacy, security and governance requirements in the ever-changing regulatory environment, is far from the only unicorn that has raised a down round.

Big names such as Klarna ja Raita have done similar rounds as the venture market has continued to slow since its highs of 2021.

The fact that startups have had to settle for a down round may say more about how companies were overvalued in 2021 than any declining performance by the companies themselves.

OneTrust CEO Kabir Barday kertoi Bloombergille the company has doubled annual recurring revenue to $400 million from 2021.

The company plans to use the new funding to meet growing customer demand. OneTrust has more than 14,000 customers globally.

“We are focused on delivering strong customer experiences and will continue to evolve our platform as our customers’ needs grow,” Barday said. “This funding is a testament to our sustained growth, market leadership, and customer-centric innovation.”

OneTrust was part of a growing world of compliance regulation startups — which included TrustArc ja BigID — when it was founded. At the time, hundreds of new laws and regulations — such as Europe’s General Data Protection Regulation and the California Consumer Privacy Act — were being enacted and startups flocked to the sector.

Other investors in OneTrust include TCV, Insight-kumppanit ja Takki.

Kuva: Dom Guzman

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